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You are looking at 1 - 2 of 2 items for :

  • Type: Journal Issue x
  • Earth Sciences, Geography, Environment x
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  • Taxation and Subsidies: Externalities; Redistributive Effects; Environmental Taxes and Subsidies x
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Cover IMF Working Papers
The Macroeconomic Effects of Environmental Taxes: A Closer Look at the Feasibility of “Win-Win” Outcomes
Ms. Jenny E Ligthart
This paper reviews recent literature on the macroeconomic effects of environmental taxes. It attempts to delineate the conditions under which a cleaner environment is compatible with attaining macroeconomic objectives, such as more employment and economic growth. The analysis reveals that an environmentally motivated fiscal reform—using the revenues from environmental taxes to cut labor taxes—may yield employment and environmental dividends if the tax burden can be shifted to agents outside the labor market, such as capitalists, transfer recipients, and foreigners. A cleaner environment and a higher rate of economic growth go hand in hand if the environment is considered an important public input into production.
Keywords:
WP; renewable resource; Pigovian tax; public spending; employment dividend; diminishing returns; terms of trade; Abatement; environmental taxes; double dividend; endogenous growth; green tax reform; optimal taxation; pollution.; physical capital; rate of economic growth; public goods; market economy; Environmental policy; Natural resources; Labor taxes
Cover IMF Working Papers
Public Policy and the Enviroment: Survey of the Literature
International Monetary Fund
This paper notes that market failure, policy failures, and population pressures are major sources of environmental degradation and that linkages between economic activities and the environment exist at the levels of macroeconomic objectives, macroeconomic policy instruments, implementation of environmental policies, and measurement of economic activity. This paper also points out that fiscal instruments can, and indeed do, play a significant role in resolving environmental problems. In addition, market-based solutions, including pollution permits, also have merit. This paper further points out that implementing environmental policies poses considerable challenges for public policymakers and concludes by suggesting areas for further research.
Keywords:
WP; government policy; pollution permit; pollution-generating activity; government investment policy; Policy failure; transaction costs; resource allocation; subsidy policy; air pollution; Environmental policy; Environmental protection; Natural resources; Environmental taxes; Global